Wasilla Real Estate, Monday Market Memo 8/220/2007

Well, I can?t call this the Monday Morning Market Memo because I?m typing this at 11:56 PM. I might have finished it this morning but Jay called at 6AM needing help with a moose. So much for the morning.

Average Price DOM
New 71 $241,513
Total Active 1009
Pending 47 $231,925 60
Closed 42 $217,594 63

This is the second week using the Alaska MLS system for the statistics. We see more of everything this week. There are a surprising amount of new listings this week, it pushed the inventory up to over 1000. I would have expected more to come off the market at this time with people deciding to stay for another winter. I guess that?s what I get for thinking.

So with over 1000 residential listings and less than 50 closing per week there is about a 25 month inventory on the market. That really isn?t that bad. Many areas of the country have a 2 year inventory.

Still if you want to sell you need to be competitive. Kibe Lucas gave me a good guage this week to determine if you are competitive. You need to be in the 30/30 club. You should be in the top 30% for condition and in the bottom 30% for price. I feel it?s a little off, it should be the 20/20 club.

Helping you get in the SOLD CLUB is what I do. Give me a call at 232?7900. .